2p ET Monday, July 29, 2013
Dear Friend of GATA and Gold:
Providing guest commentary for the TF Metals Report, London gold and silver trader and silver market rigging whistleblower Andrew Maguire insists that gold is in backwardation based on prices in the physical market in London. Maguire adds that the current extent of backwardation in gold has never been seen before.
"There is demonstrably little confidence that by giving up your bullion for even a near-date paper promise you will ever receive it back," Maguire writes. "From a physical market perspective, the extreme condition we are witnessing in gold should never happen and forewarns of an extremely serious imminent disconnect illustrating a lack of immediately deliverable supply. That this condition has existed for such an unprecedented period of time forewarns that the paper link to gold is in its final stage of irrelevance and collapse."
Maguire's commentary is posted at the TF Metals Report's Internet site here:
http://www.tfmetalsreport.com/blog/4888/guest-post-andrew-maguire-discus... [1]
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
All Pro Gold's Fred Goldstein and Tim Murphy
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